Legislation getting final OK targets eastern NC power rates

April 1, 2015 11:07 PM

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The General Assembly did its part Wednesday to expedite a power deal between Duke Energy Progress and more than 30 eastern North Carolina cities and towns that is expected to lower electric bills for their residents.

By a unanimous vote, the House gave final legislative approval to a bill that helps firm up the agreement announced last summer in which the utility would purchase the municipalities' electricity-generating capacity for $1.2 billion. The measure passed the Senate last week. It now goes to Gov. Pat M...